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Affordable
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These days, finding an affordable place to live in the Shanghai City area can be challenging. Home prices in Shanghai City are now at a median cost of $95,551, lower than the Illinois average of $300,242.
The average cost of rent is $778/mo in Shanghai City, primarily driven by the current value of real estate in the Shanghai City area. In Shanghai City, 16.82% of households rent, and 56.64% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Shanghai City is $6,149 per month. Households that rent pay about 12.65% of their income on rent here. Shanghai City’s most expensive areas are in the northeastern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
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